Energy Stock Recap: FuelCell Energy Strikes a Partnership, Rosetta Resources Shares Dip
Cheniere Energy (AMEX:LNG) is up premarket after it says a subsidiary reached an agreement to sell 3.5M tons of liquefied natural gas annually for 20 years to Gail Ltd. Gail Ltd., is an Indian state-run gas transmission and marketing firm.
FuelCell Energy (NASDAQ:FCEL) exponentially explodes after forming a partnership with Spanish conglomerate Abengoa to develop megawatt-class fuel cell power plants for Europe and Latin America. The companies expect to complete a distribution agreement related to the partnership in the next 6 months.
Cheniere Energy Partners (AMEX:CQP) trades after saying earlier it’s entered into a 20-year agreement with Gail India to sell about 3.5M metric tons of liquefied natural gas annually.
Rosetta Resources (NASDAQ:ROSE) shares dip after the oil and natural gas producer forecasts a production increase for next year but issues disappointing results from its Southern Alberta exploratory well program. The company sets a capital budget of $640M for 2012, “much higher” than expected at Howard Weil, which cut its share price estimate to $53 from $55.